Segment Data

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Data

Segment DataThe Company’s reportable segments consist of automotive and industrial parts. Within the reportable segments, certain of the Company’s operating segments are aggregated since they have similar economic characteristics, products and services, type and class of customers, and distribution methods.

The Company’s automotive segment distributes replacement parts (other than body parts) for substantially all makes and models of automobiles, trucks, and other vehicles.

The Company’s industrial segment distributes a wide variety of industrial bearings, mechanical and fluid power transmission equipment, including hydraulic and pneumatic products, material handling components and related parts and supplies.

Inter-segment sales are not significant. Segment profit for each industry segment is calculated as net sales less operating expenses excluding general corporate expenses, interest expense, equity in income from investees, intangible asset amortization, income attributable to noncontrolling interests and other unallocated amounts that are driven by corporate initiatives. Approximately $245,373, $281,687 and $193,308 of income before income taxes was generated in jurisdictions outside the U.S. for the years ended December 31, 2019, 2018, and 2017, respectively. Net sales and net property, plant and equipment by country relate directly to the Company’s operations in the respective country. Corporate assets are principally cash and cash equivalents and headquarters’ facilities and equipment.

	2019		2018		2017
Net sales: (1)
Automotive	$	10,993,902	$	10,533,021	$	8,591,430
Industrial	6,528,332		6,298,584		5,805,012
Total net sales	$	17,522,234	$	16,831,605	$	14,396,442
Segment profit:
Automotive	$	831,951	$	856,014	$	722,493
Industrial	521,830		487,360		440,454
Total segment profit	$	1,353,781	$	1,343,374	$	1,162,947
Interest expense, net	(91,405)		(93,281)		(38,586)
Corporate expense	(140,815)		(137,036)		(110,679)
Intangible asset amortization	(92,206)		(83,489)		(46,385)
Other unallocated costs	(170,072)		(34,930)		(36,650)
Income before income taxes from continuing operations	$	859,283	$	994,638	$	930,647
The following table presents a summary of the other unallocated costs:
	2019		2018		2017
Other unallocated amounts:
Restructuring costs	$	(100,023)	$	—	$	—
Special termination costs	(42,757)		—		—
Realized currency and other divestiture losses	(34,701)		—		—
Gain on equity investment	38,663		—		—
Transaction and other costs	(31,254)		(34,930)		(36,650)
Total other unallocated amounts	$	(170,072)	$	(34,930)	$	(36,650)
	2019		2018		2017
Assets:
Automotive	$	7,376,408	$	6,248,117	$	6,146,919
Industrial	1,993,457		1,792,662		1,648,761
Corporate	527,126		297,282		256,744
Goodwill and other intangible assets	3,785,616		3,374,718		3,383,164
Discontinued operations	963,022		970,261		976,793
Total assets	$	14,645,629	$	12,683,040	$	12,412,381

	2019		2018		2017
Depreciation and amortization:
Automotive	$	122,905	$	105,238	$	71,405
Industrial	17,577		14,518		13,446
Corporate	24,575		24,339		21,936
Intangible asset amortization	92,206		83,489		46,021
Total depreciation and amortization	$	257,263	$	227,584	$	152,808
Capital expenditures:
Automotive	$	227,420	$	198,910	$	118,181
Industrial	39,003		21,783		28,566
Corporate	11,450		5,813		1,979
Total capital expenditures	$	277,873	$	226,506	$	148,726
Net sales:
United States	$	12,226,381	$	12,083,120	$	11,392,499
Europe	2,223,498		1,860,912		256,364
Canada	1,614,659		1,565,393		1,467,182
Australasia	1,369,361		1,193,148		1,162,122
Mexico	88,335		129,032		118,275
Total net sales	$	17,522,234	$	16,831,605	$	14,396,442
Net property, plant and equipment:
United States	$	763,746	$	693,683	$	614,473
Europe	153,357		110,184		96,857
Canada	103,320		91,195		90,700
Australasia	147,457		95,578		95,299
Mexico	5,808		4,014		6,303
Total net property, plant and equipment	$	1,173,688	$	994,654	$	903,632

(1)The net effect of discounts, incentives, and freight billed to customers has been allocated to their respective segments for the current and prior periods. Previously, the net effect of such items were captured and presented separately in a line item entitled “Other.”

The following table presents disaggregated geographical net sales from contracts with customers by reportable segment. The Company believes this presentation best depicts how the nature, amount, timing and uncertainty of net sales and cash flows are affected by economic factors:

	2019		2018		2017
North America:
Automotive	$	7,613,047	$	7,478,961	$	7,172,944
Industrial	6,316,328		6,298,584		5,805,012
Total North America	$	13,929,375	$	13,777,545	$	12,977,956
Australasia:
Automotive	$	1,157,357	$	1,193,148	$	1,162,122
Industrial	212,004		—		—
Total Australasia	$	1,369,361	$	1,193,148	$	1,162,122
Europe - Automotive	$	2,223,498	$	1,860,912	$	256,364
Total net sales	$	17,522,234	$	16,831,605	$	14,396,442